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Match The Word With The Corresponding Meaning

1. The document defines key marketing terms like demand, supply, mass market, and life cycle. 2. It lists factors that influence demand such as tastes, number of consumers, income, expectations, and price of related goods. 3. The document discusses benchmarking as determining best practices and outlines its planning, analysis, integration, and action steps. It also lists aspects of benchmarking like product, price, sales systems, and more.

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Magaly Gonzalez
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433 views4 pages

Match The Word With The Corresponding Meaning

1. The document defines key marketing terms like demand, supply, mass market, and life cycle. 2. It lists factors that influence demand such as tastes, number of consumers, income, expectations, and price of related goods. 3. The document discusses benchmarking as determining best practices and outlines its planning, analysis, integration, and action steps. It also lists aspects of benchmarking like product, price, sales systems, and more.

Uploaded by

Magaly Gonzalez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Match the Word with the corresponding meaning:


a. Supply Expensive
b. Demand Desire to buy any product
c. High price All people
d. Mass market The lifetime of goods and services.
e. Life cycle Disposition to offer products

2. According to the text, mention the things people take into account to
determine
the demand.
 Tastes or preferences: Consumers may demand for an item one year and
ignore it the next.
 Number of consumers: A large quantity of buyers carries to an increase in
demand; a small quantity of buyers carries to a decrease.
 Income: When income rises, the quantity demanded will rise too. When
income falls, the demand of that product will fall too
 Consumer expectations: Purchasers are interested in satisfying their
consumption regarding quality as the most important factor. Likewise, the lead
price has an effect on the potential increase of the consumer´s final decision.
 Price of related godos: There are two kinds of related goods that can affect
the demand: substitutes and complementary

3. Write F for false or T for true


a. Production cost depends on Technology
F ( ) V (X)
b. As greater the expectations are, the lower will be the offer from the companies.
F (F) V ( )
c. One of the four Ps of marketing mix is Package
F ( ) V (X)
d. Price is the amount a customer pays for the product
F ( ) V (X)
e. Planning is to transform and develop marketing objectives to marketing strategies
F ( ) V (X)

4. Answer the following questions


a. What is Benchmarking?
Benchmarking is the procedure of determining who the best one is. It is an amount
of the quality of company’s products, policies, programs,tactics, etc., and their
contrast with standard measurements, or similar amounts of others.

b. What is the process of Benchmarking?


The process of Benchmarking it is:
 Planning: It is the plan for running the benchmarking investigation.
 Analysis: After analyzing the information, it obtains a basis for comparison.
 Integration:Develop aims and incorporate them into the benchmarked
process.
 Action: It refers to the action plans necessary to achieve the objetives decided
in step 3.

c. Number the aspects to be taken into account in Benchmarking:


The aspects of Benchmarking it is:
 Product: It is the thing produced by labor or effort.
 Price: It refers to the quantity of payment or compensation given by one party
to another in return for goods or services.
 Sales systems: It is a set of principles, processes, strategies and tools that
are put into place to bring the company results day-in and day-out.
 Payment systems: It is used for transferring money include debit cards, credit
cards, and e commerce payment systems.
 Advertising: It is a form of communication used to encourage or persuade an
audience to continue or take some new action.
 Promotion: It refers to the communications with the public in an attempt to
influence them toward buying your products and/ or services.
 Location: It is a place where something is or could be located.
 Organization: It is a social unit of people systematically structured and
managed to meet a need or to pursue collective goals on a continuing basis.
 Planimetry: It is the measurement of plane surfaces.
5. Write the vocabulary (20 words) from the reading, and make a Glossary:
Organize the words in alphabetic order and write the meaning of each word.
 Advertising: Presentation and promotion of ideas, goods, or services by an
identified sponsor.
 Brand name: It is a name, a symbol, a design or a term, which allows identify and
differentiate a product or service from a company, with the one of the competition.
 Consumer: Person who buys consumer products. In marketing applies to every
buyer.
 Consumption: Process of acquisition and use of products or services in order to
meet the needs or wishes of a person or entity.
 Demand: It refers to the desire, ability, and disposition of consumers to buy any
product.
 Distribution channel: Medium through which the products arrive to the final
consumer or to other distributors who will get the products to it.
 Economy: It is a social science that studies the extraction processes, production,
exchange, distribution and consumption of goods and services.
 Goods complementary: Those that jointly satisfy the same need.
 Income: Amount of the consideration received by the company for the goods
transferred or delivered to third parties or for the services rendered.
 Packaging: is the container of a product, designed and produced to protect and
preserve it properly during its transportation, storage and commercialization.
 Planning: Programming or putting in order of actions and dates towards the
proposed objectives.
 Price: is the amount of money allocated to a product or service, or the sum of the
values that buyers Exchange for the benefits of having or using or enjoying a
good or a service.
 Product: Well tangible that satisfies the needs and desires of the consumer.
 Promotion: Task to inform and influence consumers to choose a product or
determined service.
 Public Relations: Concrete form of communication that develops an activity
aimed at establishing and maintaining relationships of trust with the public of the
company or organization that develops them.
 Purchasers: Person who performs the act of purchase and who may or may not
be the consumer of the product or service purchased.
 Sales forcé: Commercial team comprising its own red and free red.
 Sales promotion: It consists of promoting a product or service through incentives
or activities such as offers, discounts, coupons, gifts, raffles, contests, prizes and
free samples.
 Services: Any activity, benefit or satisfaction that is offered for sale.
 Supply: it is related to the ability and disposition of producers to offer products for
sale.

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